Determination of Certain Matters. Notwithstanding anything expressed or implied to the contrary in this Trust Deed, all matters concerning the computation of Capital Accounts and tax basis accounts, the allocation of Net Profit (and items thereof) and Net Loss (and items thereof), the allocation of items of income, gain, loss, deduction and expense for tax purposes, the adoption or modification of any accounting procedures, including reserves for expenses and contingencies, any adjustments to the books and records of the Trust and all matters related to liquidation and dissolution of the Trust shall be determined by the Trustees in their sole and absolute discretion. Such determination shall be final and conclusive as to all Unitholders. Notwithstanding anything expressed or implied to the contrary in this Agreement, in the event the Trustees shall determine that it is prudent to modify the manner in which the Capital Accounts and tax basis accounts, or any debits or credits thereto, are computed in order to effectuate the intended economic sharing arrangement of the Unitholders, the Trustees may make such modifications.
Appears in 3 contracts
Sources: Agreement and Declaration of Trust (Cushing MLP Infrastructure Fund II), Agreement and Declaration of Trust (Cushing MLP Infrastructure Master Fund), Agreement and Declaration of Trust (Cushing MLP Infrastructure Fund)